Dry CargoEurope

Diana bulker wins timecharter, two more extended at a discount

Athens: Three bulk carriers owned by Greece’s Diana Shipping have won timecharter employment that will generate at least $12.73m in gross revenue for the NYSE-listed company. The two charter extensions have, however, been negotiated at a reduction of what had been locked in previously.

Agri producer Bunge has extended its timecharter of Diana’s post-panamax Amphitrite (98,697 dwt, built 2012) for between 22 and 25 months, commencing July 15.

The new gross rate for this extension period is $7,700 per day, a big reduction on what the vessel has been earning over the past three years.

Bunge originally fixed the Amphitrite in August 2012 at a gross rate of $10,000 per day for 22 to 26 months. The contract included a one-year extension option, during which the rate was increased to $11,300 daily.

Germany’s RWE Group has also opted to extend its timecharter of Diana’s capesize bulk carrier PS Palios (179,134 dwt, built 2013) at a gross rate of $18,000 per day, less 5% commission for third parties. The extension period will commence on September 18 and will expire between December 31, 2016 and March 31, 2017.

The rate is a modest reduction on the gross daily rate of $18,350 that was locked in when RWE fixed the vessel in November 2013.

The panamax Coronis (74,381 dwt, built 2006) has been timechartered to Sandgate Maritime for between nine and 12 months at a gross rate of $6,500 per day, minus a 5% commission paid to third parties. The charter commenced on July 3.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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